Peninsula Visa and Passport services in the U.S. has announced via a press release that Bitcoin payment is now accepted for selected passport services like passport renewals, name changes, and second passports.
The Visa expeditor firm accepts Bitcoin payment for services through Coinbase Commerce as the secure processor for these transactions. According to the firm, the addition of Bitcoin as a payment option is a move at the right time.
Bitcoin has continued to enjoy massive adoption in the private sector of society and the public sector. In recent times, governments have been paying attention to the crypto king as they integrate it into their systems.
Why Peninsula Visa now accept Bitcoin Payment
The firm COO, Evan James, disclosed that Peninsula Visa’s Bitcoin adoption is a preparation for the future. He said the company’s decision was based on future anticipations that a post COVID world would rely more on digital payment forms.
BTC has been one of the most widely accepted alternate means of payment by firms and businessmen in the world today.
Peninsula Visa, also, as part of ensuring a seamless Bitcoin payment experience, has put measures in place to address BTC‘s high volatility. The exchange (Coinbase) would enable a window where the exchange rate will be locked for ten minutes. Coinbase notifies that depending on the BTC price movement. The company may provide a new exchange rate after time.
Public firms continue to adopt Bitcoin
Evan James noted that they are the first Visa service provider to offer U.S. passport services with Bitcoin. But globally, they are not the first to begin accepting crypto as a means of payment.
As a way of wading through their economic woes, the Venezuela government open Bitcoin payment for passport processing, salary payment, import, and export. Similarly, in Austria, residents can use Bitcoin to pay for various services at 3,500 Australian Post offices.